Bloomberg reports that lawyers representing Bayer AG, the makers of Roundup weedkiller, are considering a $10 billion payout to settle tens of thousands of lawsuits claiming the product causes cancer.
The publication spoke to sources with direct knowledge of the negotiations who said Bayer’s lawyers discussed setting aside $8 billion to resolve current cases and reserving $2 billion for future claims.
Glyphosate, the main ingredient in Roundup, has been suspected of causing a series of health conditions, including non-Hodgkin’s lymphoma, a type of cancer that can take years to diagnose.
The deal could resolve as many as 85,000 current lawsuits and up to 50,000 suits not yet filed.
Three lawsuits filed against the company have resulted in juries awarding nearly $2.5 billion, leading to a surge of new lawsuits.